Tue, Apr 23 2013, 11:29 AM
Tradeflows have been a much bigger consideration this morning than the reaction to economic data. To that end, bond markets were on a mission to retu...
Tue, Apr 23 2013, 6:48 PM
Today's trading range turned out to be fairly similar to Monday's, with a notable exception. In both cases, the wider part of the range was seen in t...
Tue, Apr 23 2013, 2:27 PM
Mortgage rates barely moved today, but the modest improvements were enough to bring them as close as they've been to 2013 lows in more than three ...
Mon, Apr 22 2013, 11:47 AM
Before MBS began trading this morning, the overnight session was mostly negative for Treasuries. Asian equities were led higher by the Nikkei after t...
Mon, Apr 22 2013, 11:15 PM
April has been a pleasant month for MBS so far. Eleven out of the 16 trading days have been positive. Only 3 of the 5 down days have been more than ...
Mon, Apr 22 2013, 8:03 AM
Several weeks of relative silence out of the EU may soon be coming to an end. Certainly, market moving European news hasn't been completely absent th...
Mon, Apr 22 2013, 4:23 PM
If the PM hours were the only consideration for MBS markets today, it would have been as uneventful as Friday's super narrow session. Even without th...
Mon, Apr 22 2013, 2:51 PM
Mortgage rates were essentially flat to begin the week, with most lenders inconsequentially higher or lower than Friday's levels. That puts today...
Fri, Apr 19 2013, 12:21 PM
Trading ranges like today's are occasionally referred to as "inside days" due to the highs and lows resting "inside" yesterday's highs and lows. Insi...
Fri, Apr 19 2013, 7:13 AM
Although Friday's economic calendar is utterly empty, we're getting closer and closer to a time when decisions must be made as far as the trading mome...
Fri, Apr 19 2013, 4:14 PM
The day and the week had potential. As far as today was concerned, it was yet another chance to test the incessantly firm resistance that's capped the...
Fri, Apr 19 2013, 1:24 PM
Mortgage rates were very slightly lower today, but the improvement was just enough to leave most lenders at their best rates of the week. We have...
Thu, Apr 18 2013, 12:01 PM
The overnight session provided the week's best examples of logical cause and effect. Germany's parliamentary approval of the Cyprus bailout along wit...
Thu, Apr 18 2013, 8:05 AM
Bond markets may be getting ready to make a bigger movement in the near future for several technical and fundamental reasons. From a technical standp...
Thu, Apr 18 2013, 4:11 PM
The past two days have been interesting for bond markets and MBS as the realized volatility (the gaps between the highs and the lows) has remained w...
Thu, Apr 18 2013, 2:56 PM
Mortgage rates were unchanged today, with some lenders raising costs just slightly while others were markedly improved. Taken together, there was...
Wed, Apr 17 2013, 11:54 AM
The resistance theme of the week remains in play for MBS and Treasuries. Neither market has been able to successfully challenge the week's best level...
Wed, Apr 17 2013, 7:33 AM
For both MBS and Treasuries, the sense of "resistance " has been building for several sessions--" technical resistance" to be specific. This termin...
Wed, Apr 17 2013, 4:43 PM
If we consider the range of trading in MBS and Treasuries so far this week, Today's session saw both markets move from one extreme to the other and ha...
Wed, Apr 17 2013, 3:13 PM
Mortgage rates edged modestly lower today, signifying some level of resolve to remain at the more aggressive levels of the recently lower range in ...
Tue, Apr 16 2013, 11:49 AM
The resistance theme mentioned yesterday and today continue to play out today, as has the headline "More Data, More Opportunity To Ignore It." The ...
Tue, Apr 16 2013, 6:46 AM
The theme of the week is resistance . Were it not for the Boston Marathon bombing and the timing thereof, it looked unlikely that bond markets would...
Tue, Apr 16 2013, 4:26 PM
Bond markets began the day in weaker territory after Monday night's flight-to-safety demand steadily dried up overnight. The domestic session was gre...
Tue, Apr 16 2013, 1:46 PM
Mortgage rates moved higher today, breaking a three day trend of improvements that had rates approaching their 2013 lows. The will to push back ag...
Mon, Apr 15 2013, 12:05 PM
Excruciatingly little has changed since MBS got in the door this morning, and Fannie 3.0s continue to trade right in line with those longer-term resis...
Mon, Apr 15 2013, 7:51 AM
There's no question that the past three weeks of trading for domestic bond markets have been their best 3 week stretch of the year. This was exclusiv...
Mon, Apr 15 2013, 4:23 PM
The last few ticks of price improvements in MBS amount to ill-gotten gains as they represent a quick flight to safety owing, in large part, to the tra...
Mon, Apr 15 2013, 2:08 PM
Mortgage rates moved lower for the 3rd straight day, moderately extending the solid improvements seen late last week, and bringing rates very close...
Fri, Apr 12 2013, 11:29 AM
Bond markets began the day in slightly better territory after the European session traded "risk-off." German debt rallied, peripheral debt and equiti...
Fri, Apr 12 2013, 7:29 AM
Thursday was an enjoyable day for bond market bulls as both Treasuries and MBS managed to open in positive territory and hold those gains without the ...
Fri, Apr 12 2013, 4:12 PM
There was a twofold rally underway right from the outset today. Europe kicked things off overnight as the risk-on move that had been going strong all...
Fri, Apr 12 2013, 2:23 PM
Mortgage rates finally extended yesterday's move lower, falling at an even quicker pace today. Weaker Retail Sales data contributed to a morning ...
Thu, Apr 11 2013, 12:21 PM
A welcome break from the recent norms this morning as bond markets have remained stable in slightly better territory. The strength began as the start...
Thu, Apr 11 2013, 7:37 AM
At this point, Treasuries have unwound not only last Friday's rally, but Thursday's as well. They're very close to the lower levels of a long term in...
Thu, Apr 11 2013, 4:21 PM
Both MBS and Treasuries put in convincing performances today as they held on to morning gains all day without taking part in the same sort of fluctuat...
Thu, Apr 11 2013, 3:28 PM
Mortgage rates finally moved lower today, after rising moderately during the first 3 days of the week. Today's changes are fairly small when view...
Wed, Apr 10 2013, 11:32 AM
The overnight and early morning trading hours were similar enough to recent patterns, with Treasuries flat during the Asian session and weaker during ...
Wed, Apr 10 2013, 7:47 AM
Bond markets spent another day correcting from Friday's post-NFP rally (moving higher in yield), but this time at a somewhat slower pace. In fact, th...
Wed, Apr 10 2013, 4:14 PM
Bond markets are in a bit of a predicament now, at least from a technical perspective. The longer-term uptrend stretching back to the middle of last ...
Wed, Apr 10 2013, 3:31 PM
Mortgage rates moved higher today, bringing rates back in line with last Thursday's, depending on the lender. After Friday concluded an impressiv...
Tue, Apr 9 2013, 11:39 AM
MBS, Treasuries, and Stocks have all traded in eerily similar patterns to yesterday through the same time. This is characterized by an overnight sess...
Tue, Apr 9 2013, 7:22 AM
Today begins 3 days of Treasury auction supply with 3yr Notes at 1pm. The need to accommodate that supply may have played into some of the weakness y...
Tue, Apr 9 2013, 4:12 PM
Treasuries looked like they were going to put in a nearly perfect repeat performance of yesterday's movements coming out of the 1pm hour (specifically...
Tue, Apr 9 2013, 3:04 PM
Mortgage rates were only slightly higher today, after rising at their quickest pace in more than two weeks yesterday. Treasuries and MBS (the Mor...
Mon, Apr 8 2013, 11:56 AM
It's been one of "those Mondays" so far with newswires and market movements struggling to keep market watchers entertained. That's a good thing in th...
Mon, Apr 8 2013, 7:37 AM
Sometimes everything comes together just perfectly. Last week was one of those weeks as far as MBS were concerned with Friday's reaction to the Job's...
Mon, Apr 8 2013, 4:20 PM
MBS prices fell all the way to early Friday morning levels this afternoon as an average Monday morning got sloppy as the day progressed. The volume d...
Mon, Apr 8 2013, 2:19 PM
Mortgage rates rose moderately today for the first time in more than a week, marking at least a temporary end to the most aggressive move lower sin...
Fri, Apr 5 2013, 12:16 PM
The focal point of the week--this morning's Employment Situation report--fully delivered on its anticipated role as a big market mover. In this case,...
Fri, Apr 5 2013, 7:42 AM
What a difference silence from Europe makes! After Italy announced that it would be a good 10 days before we heard anything from the 10 wise men ( re...
